June 25, 2024
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A Quick Look At Interesting New Industries

Industry is forever changing and forging new ways to make money and improve people’s lives. Most businesses are out to make money, it’s true, but their aim is to market and sell a product that people need and or want (no one needs an iPod). There are, however, some very interesting new industries and businesses that are making great financial headway and improving people’s lives at the same time. Bonus!


Education Technology

When I was at school it was an exciting day when they got the projector out or wheeled in a TV and a VCR player, but now there is an entire industry creating education tech, from apps to specialist tablets. Kids experience the world through the screen nowadays and this is not going to change; so it’s a case of “if you can’t beat ‘em, join ‘em”. The dropout rate in American high schools is still too high (3 million a year drop out) and so in an attempt to curb this trend, education technology has been introduced to make school a more engaging and exciting place to be. Time will tell the benefit society receives from this change, but I predict it will be massive.

Wearable Tech

The Google Glass and the Apple Watch were just the start and have opened up the floodgates to a whole host of ‘wearable tech’. This is just the latest stage in the wave of personal technology that Apple started with the iPhone. This trend has even led to wearable necklaces for pets so that you can track your dog’s nutrition… because why not? Because of all the training younger people have access to, it has now become easier for anyone to develop their idea and get a prototype together whereas in the past it’s only been open to the tech wizards with serious monetary backing.

Medical Marijuana

With its legality among a great number of States confirmed, it is now easier than ever for so called Cannabusiness startup companies to make a lot of money from selling various ways to ingest medical marijuana to prescription patients. These business are a great way to promote safe medical marijuana usage and can provide patients with what is known as ‘edibles’ like marijuana infused jelly sweets and chocolate.

Cyber Security

Because technology is growing at an alarming rate (almost like before a robot uprising…) security is struggling to keep up. Every time people find how to safely use tech, another hole opens up that will allow cyber criminals access to commit their crimes. Cyber security is becoming big business, especially with high-profile cases of cyber-crime. Companies that specialize in information security are making a lot of money and clients are clamoring for the best companies. Seems like the perfect industry for a budding entrepreneur.

Luckily these new industries fulfil a need within society and aren’t just for the purpose of making money for its shareholders. Even wearable tech has many uses, especially medical and so don’t think I’m stupid for thinking there is a need for another Apple gizmo.

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